The Seattle Star Newspaper, March 9, 1923, Page 24

———— LOCAL Bch i tA A i Carelessness and Ignorance | Hurt Town, Says Irwin » Loose language and The facts by its own people | factors that are retanting tt Of the Puget Sound country, ang to W. A. Irwin, of the Puget p MMAN company. } Speaking informally at the meeting the Northwest Products cbmmit s ff the Seattle Chamber of Com Thureday, Irwin told how his Sompany had discovered the need of Melting Seattle and Puget Sound peo r are two growth accord ©. “You would be surprised. id | win, “to know the number of P come out here with the inten ‘Of settling, and are discouraged E By our own people to the point of elsewhere, Thous re rks, often made from a misguided “gen of humor, and | ments made with ignore “facts, are the little thing tard our growth. ))) "For instance, take the subject of rain. We like wl 1 We, ourselves, know how to take Gwn remarks, but the visitor Pomot He reads it as a ‘matisfaction with c @al conversation I recex Miustrates the way ma *Tan't this a fine day? one man asked Another, ‘Yes, but ther lot of Sretten ones yet to come,’ was the “Conversations like this stick in the minds of the visitor and grow to 3 fe proportions, When it comes to What we really ought to say is if it weren't for the rain we In't be able to say that Seattle of us t ithe most healthful city in the} “Another thing against us is that asi! men. cannot be depended to give an expression of opin-| founded on fact. They don't about their own country, nor Fesources behind it. We talk jt spending a million dollars to Seattle and the Puget to Easterners; it would be investment to take half of that mt to advertise it to ourselves, | “The only way a city grows is by the energy of its own people. This is a matter _ of individual responsibility. “Seattle has wonderful natural re behind it. It has only one lacie to overcome, and that Is the tude of its inhabitants. We know about what then we should talk about what that conveys an idea that we all get into our heads and pep there. It says this: ‘Seattle is WALI RK, ON ant rat STREET JOURN NEW orded by th ed the previou red fair pally b luded thern I ao ff 4; Pan-an ed States Steel, 1 ARKET — plan New 63%. up | GRAIN CLOSE cu M ani AGO, fractiona cago boar lowing a day trading Th rt rt ve buy ved at ther comm @ and I dite utd ked f of their contract hey Were unable to fill and St. | re Was some demand and ipts |. Elevator int ouses were bh ‘ountry offerings we | meatice demand showe ment Argentine a |the week were | against 1,67 Provisions we of inc 4 no impr of oats 0 bushel year, as 8 result nd and a pments 1,686 D nat hig sed foreign dem higher hog market.» al we have, | rT} ui 1 Chicago Car Lots Friday's Quotations Diggest town in the world for its} Don't forget itr" ‘ EGIN BIG OIL PROFITS FIGHT TNEW YORK, March 9.—Suit of "International Petroleum com- fy to recover $1,520,000 from the Sinclair iny came up yesterday for prelim- wry hearing. ‘The Internationa! contends that 000 barrels of oll, product of plaintifr’s well at Vera Cruz, brought by the Mexican Sin- ir, sold, bought ogain and resold the Compania Transatlantic Pe- With the result that the price from 35 cents a barrel paid the tional to $9 cents a barrel. Martin W. Littleton, counsel for Mthe defendant company, succeeded “im baving the court strike out a : ph of the complaint, in ¥ it was stated the Compania ntico Petrolo and the Mexi- Sinclair Petroleum company “practically controlled by the interests.” ‘The complaint alleges tt lost ap- imately $1,500,000 thru the man- in which its product was sold Tesold after the Mexican Petro- had contracted to take the Well's entire output at 35 cents a Will Reconstruct : Alaskan Radio NOME, Alaska, March 9.—Mate- Fial will be shipped as soon as navi-| on opens to St. Paul island to re. round-tirp fares in effect daily via Great Northern * Railway Between Everett Stanwood Mt. Vernon Burlington Anacortes Sedro-Woolley Rockport Bellingham Blaine New Westminster Vancouver, B. C. and all intermediate stations Fare and one-third for round trip minimum $1.00 Children 5 to 12 years half fare minimum 50¢ Tickets on sale dally— ; limit 10 days _ Baggage—i50 pounds on adult and 75 pounds on one-half fare tickets checked free Ask for fares and train schedules at 1010 2nd Ave. Main 5830 Bo, drdand King st, Main 6601 TRAVEL VIA Great Northern Railway Seattle Petroleum com-| jand R Sugar and Coffee | Fridays Quotations Sugar—Firmer; raw, §$7.28@7.21 ) * former; grann: | Coftee—No. 7 Rio. i3@ } Santos, 154 Gite Ib, | N.Y. refined, |) BANK CLEARIN Seattle Clearings Balances Clearings | Balances ..... 1,410,800.00 Tacoma ‘Total transactions .. = 2,460,000.00 % HOLD MEETING ~ FOR POWER MEN jac 1 Puget Sound Co. Holds All- | Day Session | Uuaraceuented Sey of Western and Central Washington latong commercial industrial \lines Is in store for the next few development and | years, in the opinion of delegates to the convention of power, light securities authorities of the Pt Sound Power & Light Co., who held nd a session in the assembly rooms of the Henry building Thursday W. Leonard, president, of the interest being taken hy company in its 2,100 employes. spoke the He |pointed out that the holdings of the| |corporation are now in the hands of |25,000 persona. | ‘The meeting wan devoted largely |to discussion of the securities of the |company, which has adopted a policy of encouraging customer ownership. | “We would rather have one thousand people each own one share of stock than to have person thousand" was the {dea More than 150 men from ington and Oregon were Speeches and short talks were given by a number of the delegates, in- |cluding Vice President W. H. Me- |Grath, Capt. N. W. Brockett, R. U. |Mufley of Wenatchee, R. M. Boykin of Portland, W. J. Grambs, Frank Dabney, Dwight Ware, Ww. | Brownell, H. J. Gille, R. W. Clark 8. Clapp. one own a expressed. Ww present ore Transportation Is Poor, Says Hoover NEW YORK, March 9.—""he peo- ple of this country cannot stand an- |other year of transportation difficul- | ties such as the last two, and if the | raliroad managements do not come forward with an adequate solution, the government must take them over,” Secretary of Commerce Hoov- er sald yesterday in a statement fol- lowing the meeting of the National Automobile Chamber of Commerce, Hoover spoke at the meeting on | the rubber situation, He stated that | British legislation threatens to ham- per American rubb6r goods produc tion. He expressed the hope that-an agreement could be reached with Great Britain and other rubber pro- ducing nations, which would regu- Jate the industry, The N. A. ©, C. will co-operate with the department of commerce toward this end. + REVIT AL w Chandle ¥ Stocks Foreign Money Status Friday's Quotations Purelshed by 1 =o & Dryen B10 Second Ave., Beattie value Present, veine “as Normal $4.86 Liberty Bonds Vriday’s Quot Ternished by Logan & Dryen B10 Second Ave. Beattie High lew : oreign YORK, Ma Exchange GIVE FIGURES _ ON GRAIN CRO WASHING departme: mated oats and barley i from the 19: on Mareh 1 Corn on Ma. 1,087.4 am amount on farms on March ture today est! ne of cor a follows ch 1, totalled appr 000 bushels, or 3 crop, compared or 42.5 he 1921 crop on farms bushels, rm price this March 1 was 74.3 cents per bushel compared with 54.8 conta last March 1, and an aver Age of $1,218 from 1916 to 1920. Wheat, 153,134,000 bushels, Yer cont of the 1922 crop, o ith 134 00 bushels or 17.9 mpared or 165 crop on farms March The wheat price this Murch was $1,051, compared with $1.169 last March, and an average of $1.509 for 1916-20 period CONDENSED MILK STOCKS THE SEATTLE BUSINESS—Finance, PEOPLE Il ndustrial Leaders in RETARD GROWTH 9Upswing in Early D SEATTL Produce, Shipping, MARCH 9, 1928 Real Estate, Building ‘BUTTER PRICES BANKERS BOOST Wheat Growers Facing GUARANTY ACT DROP 4 CENTS PAGKER MERGER IS OLD IDEA Future Cost Problems Local Market Drops'to Meet | Try to Smooth Out Armour-| Roger W. Babson Finds Agricultural West washington’s Bank Law California Prices tive lropped The price iday morning, butte 4 cents on the local price drop reflects the of butter on the San mark Eeeee ren in steady changes, Livestock 4 Vr Re **, ve steady colpt y H morning were ‘ Prices Paid JETABLES Wholesale U toe "oe 1@ 10.0096. 0.00@ rt white #. they, araded rroirs Prices Pald Wholesale Dealers Appies— Nana Comoannts iene ” 1 ¥. 16-pke. box 70 4-08 rida, per cas ‘ . toes 46@4 Lemons , Oranges—Per + Pineapple—Cor. Tangerines—siand NUTS Prices Paid Wholesale Dealers Atmonds—1 Le, per M, per box Pecans p x Mixed Nute—Per tb WatnateCel., No Hudded, per DAIRY PRODUCTS Prices Paid to"bhippers | Dattertat— |_ A are | 04 color MITk—-Cwt., f.0.b. Seat | ¥. ©. D. condensary DALY nODUOTS . Beattie Galivery white shell Je supply Hoek Bw Wash. tripiets Tillamook. tri; “es POULTRY AND Prices Vaid by Wholesale Dealers te Bhippers bricks ne Butter—y Wash, ream Live, tb. Live, fat, TM. os. and up live, 3% t ight, 3 to 3 2 crop and the price| 2% the and up Dreased * Tarkeys—Faney a. p Roosters Hoge— Chol te Veal— Paney Med Fancy ' 16 qn Old, ve, per 1b, Vent .. 7, fancy heavy, 186-200 the. POULTRY AND MEATS Prices Puld Wholesale Dealers Ducks—-Dreesed. per Tb, Hens—Dressed. heary Dreneed, light Live, heavy, 1. Live. tM. Fryers Geene—Drenred. Turkeys—Pancy Live, D. a | Prime cows and. eifers .... Frair to good with no price} Morris Negotiations | CHICAGO, March %—Bankers to: | lay brought about a conference be | en of Armour and | tween representat packers, an effort to which have wed mer A ve expired our ent of Wash ‘Ship News Tides in Seattle WRIDAY MARCH 9 SATURDAY ret Low Tide MARCH 10 229 & m, 69 ft.) Vine Low Tide iret Migh Tide 44 O48 ft. PL am. 142 tt] Mint Tide second Law Tide 10.09 « oat 17 pm, OF ft. | Serond Low Tide 4 High Tide ym, 21 ft 2 tt Weather B TAT ureau R, March eport 1AM Arrivals and Departures ARRIVED—March $—#ir Dorot everett and Va i str Kew op. m 0 p.m. | Mantia Oo { Tecoma, oma yin Vancouver rch t—tr Admiral He fo Via Ban Francieco, at mid Hebres for Han Pedro Marinula for Ban Fras | Vessels in Port at Seattle |mnitn Cove, erminal-—Pie Mars Str Jefferson tr Martia Maru Mr) tr Ad ate Cura Str Admira i D ey, tr tr Ce ° kn G, & Bu-veyor ©. 6 4 & Phipging Board Mo: nium, str Anna BK. Morne, verndo, atr Crom Keys, tr I atr Weet Hartland, ate Weet Ison, Wallingford, Lobe necticut Aireet ‘Term reat in Good Condition Model Is 100 Years Old third Installment ye federal re Arthur First MINNEAPOLIS, March 9— Last week we quoted Roger W fide This Is the of an article on serve banking system by K. Truax, cashier of the National nk of Seattle. oer Babson relative to eo the “Industrial week Mr, agricultural ditions in West.” This E Kabson treats of the L Weat various issues Ame the The people should be taught that ‘diversification’ applies not only to the different crops which & farmer plants, but to the dif ferent lines which his boys en ter, Let one'or two of then continue in farming, but let on 0 into the building trades, an other into small manufaecturin a third into merchandising and the fourth inte the ministry, medicine, banking or law auffeur an gardener anded. fiw > KO t e cit r # of most othe WHEAT GROWERS FACING PROBLEM ‘One of the great troubles with boys ix that disease known as ‘green pasturitis,’ which a ma teria medica tells us means that to one afflicted with this disease ‘the pasture farthest away al- Ways looks the greenest.’ interests ¢ more ven the 4 arth nies.’ enb this coun jong as our wined high, there was the de a for CONDITIONS ke of the exce ARE IMPROVED immigration t notwith net gain in 1922) stacles, 1 1 the 000 people—and| ral West ir in our ear age The next currency iesued ernment. They were used nance in part the civil war. |they depreciated In value aid be worthle cks were the by the and 80 birth n inc to tt While rely and rease in sufficient to t eupt wit t cut off the these gric nding great ob. u fa M Geni par because into circulation not , and finally in 1 on. grees passed a law limiting the Issue to 450 million dollars You will observe early legivlators rned some of the d economi~. 8o far ‘ave considered only the Paper money issued by the govern mental agencies, Unfortunately the people were subjected to still further losses and hardships as a result of the numerous Issues of currency put out by companies and the early manks. The novel scheme of issuin; ney secured by land was tried and . In the state of New York two new ing ideas were first developed: afety fund system, or mutual insurance of circulating and the free bank or bond sys- tem, for securing circulating’ notes, which was the precursor of the national banking system. The safety fund system at t glance seems strangely like the late state bank guaranty fund of the state of Washington. Every member bank payed into a fund 4% of i per nt of its capital until the amount | paid equalled 3 per cent of its cap |ital, This law was passed in 1829, and while many banks operating un- jder it failed, their circulating notes were all paid eventually in full, Can- jada adopted this plan in 1890 and it still remains in force there. nk system, which ablished in 1838, any person tion of persons could re- bank notes from the state mptrolier, and after signing them, might issue them as money, provided they first deposited with him United States bonds or bonds of the state of New York or real estate mortgages 4s security for the bank notes, About the time this system had become pre |fected in New York by eliminating jall security but government bonds and in other ways, the national bank law was enacted, about better oc wern up ir nut: ju ales mer looking in this section The improvement has the increase in iness for the entire birth rate, the wheat ultural West difficult ot fi ere char the nat & agric very are wed during 1923. tributed barometer of bu ntry “The Babsonchart today stands at 3 per cent above nor. mal, as compared with 18 per cent below, a year ago. This is & great improvement, and the task before all of us now is to Keep business up to its present figures, tistically that at last seem to have principles of these conditions to ners of Minne. h Dakota, Kan nd even those rather bad conditions ‘© much The frozen pay en fo for axes small hand § unka, Lown tn in two in that West years liquidating 4 the farmer but with oducts It everywhere true the better banks redits than their s are eir debts pr and fall they hig buy Harding g busines: or pot hi future can is upon the a, back to normal, can hold it there or tell, Much depend West, and espe roads, bar Newspapers and other le: opinion in this sectio: “In the end, as the great agri- cultural West goes, so goes the whole country. Hence, the prob- lems of the West are the prob- lems of all of us. As Jesus of Nazareth—the greatest econo- mist who over lived—taught His hearers, “The prosperity of each is dependent upon the prosperity of all, and we can help ourselves only as we help one another.’” “dibs ther nd other ¢ jem. KODUCTION COST MUST BE REDUCED Fundaménta this nd better r cultura the kere, notes, deposit Prewent immigration conditions, solved a lem thru exp crease exports, must compete with labor of Europe, th other cereal-grow ng countries, means that our only hope ts mans production Wheat must krown as automobiles are made by the most efficient and intensive methods “In which must cereals our farm- | the low} Argentine be But cont and This in TELLS ABOUT ™ engaxed In raling wheat | Wealth of Fruit Districts Is Described by Underwood either products brick The the country of the reclamation of Western lands is pre- order to of the world either the per comp In rating productivity must te with wheat, of our increased must be the cre be else the cost nout ceive now hould in raising ver nte and painters, in by towns. The fu such cities as Minneapolis. Kansax City, Duluth, Ds Davenport joux eka, Wichita, and ¢ pends ery largely wu recornition and f this problem. “The problems of farming can eir oF of Paul, Moin nor ne value to ture St x sented in the March Issue of Nation's by Louis on | Business, by Jack Underwood, who is onjin charge of the Washington office oN | of the Seattle Chamber of Commerce. |He shows that to date about 000 acres of irrigable land has been vag solved by the politicians reclaimed and put to productive use fapne handing out gifts to the lin the Yakima valley alone. He dis armers It can be solved only | cusses the worth of both the Yakima by intelligent leadership with i : and Wenatchee valleys. the active co-operation of the arlene (The next installment will dis- cuss the national bank act), { Business Changes | ee eS Ses SS ed! Aw a result of decre and in spite of a si consumption, con and evaporated milk in the hands of] | American mantifacturers on January 1, 1923, were only 61,055,000 pounds. | This represented a decline of 68 per cent from stocks of January 1, 19 | and was the lowest for month In | nt years. Production in the first nine months | of 1922, the latest period for which figures a.2 available, was 6 per cont below the output in the like period of 1 Consumption decreased 1 per |Flour—B cent and exports declined 31 per cent.| Art Weal, 4 og Art, local, bales Sugar—Cane, per ewt Beet, por owt. « HAY, GRAIN AND FEED ed pr t duction stocks | Prime teht oth ° 6 600@ 38 4.002 5.50 1.00 8.60 12.80@12 86 7.000 9.60 10,25 10.75 9.008 9.51 4.00@ 7.00 r | SPADD DOUGLAS FIR Of outstanding Importance to no, ate Clty of Au Gray, str Con Street Term | Stacy treet Termin | wood, U. 8 C. B. General Petroteurr Todd Drydocks Boxer | Puget Hound Bridge | Str Patterson | Marbor Islan k ‘at Beattie Fagle N Moff str Robin | newspapers, “Of course, no one should assume from these comments the idea that jthe agricultural West tx dependent veq[UPON Wheat, ‘The industries of this wonderful section of United - | States are becoming divers! fied every day. Moreover, thesc jdiversified industries rapidly picking up. OTHER INDUSTRIES aviwl ‘The lumber industry }sota, the dairying jwection and the various other line art improving, Packing, which was flat on its back a year ago, is turning over on its side, preparatory to get ting up. All the live stock business ent 4. Delle Kir Kewanee I, F. Alexander the nd & Dredging ¢ rani & Wareho: President Ji ‘Training Sta | 2 are w ® Drydock eamaip Moo neo Winglow Marine bark elf barke bktn James Toft, sehr J whalers Star Nos 1 Hell Street Terminal—t Cedar, achr Kpokane. Motorahip ringe—Str Oregon. Valdes, of Minne interests of this Ww. ¢ Be Hr. He presents figdres for the year 1922 showing the wealth of the We./ natchee valley which paid $3,200,000 |for life and fire insurance alone. There was expended for automobiles, | tractors. $5,825,000; hardware jand building supplies, $2,300,000; for |canned goods and groceries, |000; for farm machinery, $ jready-towear clothing, § shoes, — $2,000,000; furniture |household supplies, $2,700,00 and woolen goods, | $2,200,000; drugs and sundries, $2,350,000; millinery, | jnotions, crockery, ete. $1,950,000. | ‘The writer states that if the lan of the yalley still unclaimed are |brought under the plow, they will come within 30 per cent of the pro- duction of all the lands in the coun- ete., $4,150,- | 259,000; | 0,000; | and | cotton |from 810 Douglas building to 4 National Theater Co. hag moved Douglas bullding. z The Remington Typewriter Co, is located in its store at 1309 Fifth ave, The Olympic Fur Co. has rented 408 University st. and will open a fur and curio store about March 16. Hawthorne Dent has rented 4403- “7-9 Whitedienry-Stuart building and is now established in this new location, Puts & Calls $40 to $125 controls 100 shares of any Hated stock on N. Y. Stock Ex= change. No further risk. Move of 5 points from option price gives you opportunity to take $500 profi American lumber exporters in the in- creased interest in Douglas fir which previously has not obtained a foot- }hold on the Spanish market. Trial shipments have recently arrived in Madrid and Barcelona, and altho the |iumber wan disposed of with some difficulty owing to the traditional ative attitude of Spanish merchants, this experiment has given |watisfaction and repeat orders have followed. Financial Flashes From James Macfarlane & Co, 811 Second Ave. U. 8. treasury to raise $400,000,000 at once will issue certificates In two vith interest at 4% and 4% seri | per cent | Produc aro asking 17 conty for ebpper delivered. Ratio of reserves to Mabilities of Bank of Bngland are now 19-20 per cent vs. 18:06 per cent last year, Utah Copper, quarter ended De. cember 31, total income. $1,740,249, or 1,07 cents m share, par $10, on 16,244,900 outstanding capital stock va. $1,695,622, or 1.04 previous quar. ter, Chino Copper, quarter ended De- cember 41, surplus $182,628, or 21 Jcents a par $5, on 4,949,000 stock vs. previous quarter Lehigh Valley for quarter ended December 41 last reports a deficit of $647,226 vs. surpluw of $6,597,065 in fourth quarter 1921, Mexican crude oil output declines, dropped 9,696,403 barrels tn: 1922, hi 4 Hay—Wholesale, f. 0, b, Seattle Alfalfa teeae Mixed Hay .. sees Straw oo. a Clty Delivery, Wholesale, Barley—Whole ford, 100° Rolled and ground, 80's-100 Clipped, 100° Corn—Whote yellow, 120’ Cracked and feed maa Oate—Whole, feed, 100 1 and ground, ting, 100'n Recleaned fi 100°" Chick Feed—100'" Chiek Mash—100'" Growing Veed—100's ..... Growing M 100’, no B. M, View Mash—t00's, no 1, M. Keratch Feed [Hone Meal Hone—Gr Charcoal Vish Meat | Grit—Limentono Granite Cras Meat Seraps—Hastorn .. Shell-—Hastern oyster |" 'Weatern oyster fiddlings lated Hardwood . Lynden Milk Plant Doubling Capacity LYNDEN, March 9.—Tho capacity of Lynden'y powdered mille plant is being doubled, with the installation of $10,000 worth of new machinery. for an Increased demand with increased prico offered, induced the directors of the Whatcom County Dairymen's association to increase tho size of the plant, powdered | milk, together ak na ete cha rs PLAN TO PUSH LOGANBERRIES| | Plans to create a market for the| loganberrles grown in the Pacific Northwest by meana of national ad vertising were considered by the ite development committees of the Chamber of Commerce ‘Thursiay R, D. Bodle, representing the berry growers of the state, announced hat there were still 900 tons of last year’s crop in cold #torage, and that the present market outlook Indicated that less than half of the 4,500-ton crop of this year would be marketed A meeting In which a larger num ber of the growers will be represont Jed will be held Inter to consider defi nite plang for the introduction of the | berries in the Kastern markets. There are 1,700 acres of loganber ries in the state, most of them: ir | King county, and 650 acres on Vash |stated that 65 per cent of the logan stated that 65 per cent of th elogan berry acreage will come into bearins this summer, He advocated an edu eational campaign, to inform the pub Ne of the food values of the logan ree berries, Il New Bond Issues } a ee The 160 Broadway company ha | usted $4,500,000 first mortgage 6 per cent serial coupon bonds secured by the property now being improved by a story office building at way and Liberty at, The bonds mature in three to 16 years and the coupons are dated April 1 and October 1, | Broad ‘ Soares ry $300, etc. Write for Free Circuia R. PARKER & ©O., 50 Broad St., N.Y. looks better and the farmers are con. try now under plow. Reduction in Fares The following reductions in Round Trip fares, in effect March 6th, 1928. Return limit,-80 days. Tickets good for stopovers at Everett and Mt. Vernon. Former Round Trip Fare +e $5.80 4.76 442 4.10 3.30 2.80 New Round Trip Fare $4.65 3.75 3.50 3.30 2.80 2.55 and Bellingham and Sedro-Woolley. . And Burlington...cccescesseeeeee and Mt. Vernon. and Stanwood, and Silvana. Botweon Between Between Botween Between Between Beattle Seattle Seattle Seattle Seattle Seattle Reductions to various other points north of Everett. HOURLY SERVICE—Leavo Seattle for above points 6:80 A. M. 8:00 A. M., and “hour. ty on the hour” until 6:00 P, M, Extra 8:00 P. M, Saturdays and Sundays; 2 hours and $0 minutes to Mt Vernon; 8 hours and 60 minutes to Bellingham, SEATTLE-EVERETT SERVICE—Every half-hour on the hour and half-hour; 750 one way and $1.80 round trip. Time of Limited Trains 1 hour, SEATTLE DEPOT SIXTH AND OLIVE, MAIN 4678 Pacific Northwest Traction Company